Lexington Realty Trust (LXP) Reaches New 1-Year High at $10.94
Lexington Realty Trust (NYSE:LXP) shares hit a new 52-week high during trading on Thursday . The company traded as high as $10.94 and last traded at $10.72, with a volume of 492,014 shares traded. The stock had previously closed at $10.86.
A number of brokerages have recently commented on LXP. Jefferies Group reiterated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday. Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday. Evercore ISI lowered Lexington Realty Trust from a “buy” rating to a “hold” rating and upped their price target for the stock from $9.75 to $10.00 in a report on Monday, June 13th. Ladenburg Thalmann lowered Lexington Realty Trust from a “buy” rating to a “neutral” rating in a report on Thursday, May 19th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.00.
The stock’s 50 day moving average price is $10.42 and its 200-day moving average price is $9.03. The stock has a market cap of $2.55 billion and a price-to-earnings ratio of 20.83.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company earned $109.60 million during the quarter, compared to the consensus estimate of $103.72 million. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, equities analysts predict that Lexington Realty Trust will post $1.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.17 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.68 dividend on an annualized basis and a yield of 6.28%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $9.78, for a total value of $489,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,155,854 shares in the company, valued at $21,084,252.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Richard J. Rouse sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $9.18, for a total value of $91,800.00. Following the completion of the transaction, the insider now owns 600,148 shares of the company’s stock, valued at $5,509,358.64. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Lexington Realty Trust by 1.1% in the fourth quarter. Nationwide Fund Advisors now owns 174,531 shares of the real estate investment trust’s stock worth $1,396,000 after buying an additional 1,843 shares in the last quarter. California Public Employees Retirement System boosted its stake in Lexington Realty Trust by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 769,447 shares of the real estate investment trust’s stock worth $6,156,000 after buying an additional 9,300 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Lexington Realty Trust by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,423,556 shares of the real estate investment trust’s stock worth $11,388,000 after buying an additional 56,126 shares during the last quarter.
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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